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The Offshore Frontier

Marc Edwards: Industry must work to reduce deepwater costs, cycle times

The industry needs to focus on reducing the cycle times and costs for deepwater projects, Marc Edwards, President and CEO of Diamond Offshore Drilling, said at the 2015 IADC Annual General Meeting in San Antonio, Texas.

A recovery in global oil prices will come down the road, but the deepwater sector –which was challenged already at $100 oil, never mind $50 oil – must make changes now to prepare for that next upturn. In particular, the industry must work to reduce the cost of deepwater projects and to shorten deepwater cycle times, Marc Edwards, President and CEO of Diamond Offshore Drilling, said.

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